Banking, Insurance And Finance

LOAN APPLICATION AND SOURCES IN NIGERIA.

Do you have a sound business plan/feasibility study on a project that you would like to embark on but lack the required fund? Research has shown that lack of fund is the single greatest factor which inhibits the establishment of new businesses and the growth of existing ones.

Finance is no doubt the life blood of any business and due to popular demand we have decided to prepare a manual which deals on how to apply and package your loan application and most importantly little-known source of finance in Nigeria apart from banks, insurance etc. For our clients that have purchased our business plan / feasibility study, these manual would also be important.

It is first that we define the concept of loan. Loan are funds that organizations like banks lends to there customers for the purpose of making profit. It is usually taken from a plus region to a negative region. It is importance of the profitability of the business because if the business is not profitable, the lender would not to be able to secure back their invested funds.

To take a loan means you are using other people’s money {OPM} and to be successful with the use of OPM, the basic principle is that you will operate on the highest ethical standard of integrity, honour, loyalty and consent. A dishonest man is not entitled to credit.

The key to financial success today is being able to get the money you need for your business. In today’s inflammatory period, money is what makes or breaks you in business. Our manual is aims mainly at exposing these sources of finance which includes venture capitalist in Nigeria.

The table of content of the manual is given below.

Ø The concept of loan and types of loans.

Ø How to build your credit reputation

Ø How to prepare a winning loan package

Ø Do’s and don’t when contacting the financier

Ø Details of financiers

Ø Summary/ Conclusion.

Get our market research report on the following related topic by clicking on any of the titles below

1. WHERE AND HOW TO GET LOAN FROM FINANCIERS IN NIGERIA. [FOR SMALL AND MEDIUM SCALE BUSINESSES]

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365 Campaigner is a complete suite of social collaboration, communication and management tools for your team.

From List building solution to event announcement and CRM, 365 Campaigner provides everything you need to boost sales, step up productivity and manage all day-to-day activities. Tightly integrated.

365 Campaign is the one stop shop for digital marketing solutions for businesses, politicians, religious organizations and individuals. Visit www.365campaigner.com for more information.
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Office Phone Number: 01- 295 24 13 {Monday – Saturday; 8 am – 5 pm}

Mobile Number: +234 {0} 8033782777 ; + 234 (0) 908 335 7733 {Monday – Saturday; 8 am – 6 pm}

E-Mail Address: enquiries@foramfera.com

CC: foraminiferamarketresearch@yahoo.com

Office Address:

61-65 Egbe- Isolo Road,

Iyana Ejigbo Shopping Arcade,

Block C, Suite 39,

Iyana Ejigbo Bus Stop,

Ejigbo, Lagos.

THE MICRO FINANCE BANKS INDUSTRY IN NIGERIA

The micro finance policy, regulatory and supervisory framework for Nigeria was introduced to galvanize and empower the poor and vulnerable people by increasing their access to the factors of production.

The policy seeks to significantly enhance the latent capacity of the poor for entrepreneurship through the provision of micro finance services to enable them engage in economic activities and be more self-reliant, increase employment opportunities, improve household income and create wealth. In essence, the policy is about providing financial services to the poor who are traditionally not included by the conventional financial institutions.

The micro finance policy recognizes the existing informal institutions like the Esusu/ Alajo that is, the daily /monthly monetary contributions by market women and business men and seeks to bring them within the supervisory preview of the central bank of Nigeria {CBN}, in order not to only enhance the monetary stability but also to expand the financial infrastructure of the country to meet the financial requirements micro and small scale enterprises {MSE’s}.

The small size of loan advanced and /or savings collected, the absence of asset-based collateral and simplicity of operations are some of the basic features of the modern day micro finance banks in Nigeria.

Micro finance bank actually is a result of the consolidation policy of the central bank of Nigeria on community banks which were not well capitalized, lack technical expertise and oriented towards lending based on the cash flow and character of clients.

The present micro finance policy provides for two categories of micro finance banks in Nigeria namely

  1. Micro finance banks licensed to operate as a unit bank
  2. Micro finance banks licensed to operate in a state or the federal capital territory.

For micro finance banks licensed to operate as a unit bank, also known as community banks, they can only operate branches or cash centers within a local government and the minimum paid –up capital for this category of banks is N 20,000,000 million per branch while for micro finance banks licensed to operate in a state or the federal capital territory, the minimum paid-up capital is N 2,000,000,000 Billion.

A number of micro finance bank were recently closed by the central bank of Nigeria due to a number of reason amongst which are insufficient paid-up capital and mismanagement. The apex bank has promised to look into the sector with a view to providing the needed solution to the problems facing it.

Do you seek micro-finance banking opportunities in Nigeria or you just want to know more about the subject matter as it affects Nigeria, Please do visit

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365 Campaigner is a complete suite of social collaboration, communication and management tools for your team.

From List building solution to event announcement and CRM, 365 Campaigner provides everything you need to boost sales, step up productivity and manage all day-to-day activities. Tightly integrated.

365 Campaign is the one stop shop for digital marketing solutions for businesses, politicians, religious organizations and individuals. Visit www.365campaigner.com for more information.
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Should you require a business plan / feasibility report, please do contact us through any of the means below.

Office Phone Number: 01- 295 24 13 {Monday – Saturday; 8 am – 5 pm}

Mobile Number: +234 {0} 8033782777 ; + 234 (0) 908 335 7733 {Monday – Saturday; 8 am – 6 pm}

E-Mail Address: enquiries@foramfera.com

CC: foraminiferamarketresearch@yahoo.com

Office Address:

61-65 Egbe- Isolo Road,

Iyana Ejigbo Shopping Arcade,

Block C, Suite 39,

Iyana Ejigbo Bus Stop,

Ejigbo, Lagos.